MEFD April 2018

Published: Monday June 4th, 2018

Overview

Indications are that the modest growth in the Bahamian economy was sustained during the month of April, benefitting from an improvement in tourism output, while varied-scale foreign investment projects continued to support construction activity. Inflationary pressures were well contained over the review period; although domestic energy costs trended upwards, due to the ongoing supply-led gains in global oil prices. The fiscal deficit narrowed over the nine months of FY2017/18, mainly reflecting a decline in capital outlays and an increase in tax revenue. Monetary sector developments featured growth in deposits—fueled by net foreign currency inflows from real sector activities––in contrast to a reduction domestic credit, with both liquidity and external reserves correspondingly boosted.

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